US court levies USD 194 million penal charges on TCS

TCS, however, said it has strong arguments against the judgement and is taking necessary steps to protect its interest through review or appeal.
TCS
TCS

NEW DELHI: A US court has levied penal charges of about $194 million on IT major Tata Consultancy Services (TCS) for misappropriation of trade secrets, a regulatory filing said on Friday.

TCS, however, said it has strong arguments against the judgement and is taking necessary steps to protect its interest through review or appeal. The order has been passed against the company in a case filed by Computer Sciences Corporation (CSC), now merged with DXC Technology Company (DXC) -- alleging misappropriation of its trade secrets before US District Court, Northern District of Texas, Dallas Division.

“The court ordered that the company is liable to CSC for $56,151,583 in compensatory damages and $112,303,166 in exemplary damages. The court also assessed that the company is liable for $25,773,576.60 in prejudgment interest through June 13, 2024,” company said in the filing.

The court also passed certain injunctions and other reliefs against TCS, it added. “The company believes that the Judgement has no major adverse impact on its financials and operations,” the filing said.

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